Synthetic biology is a synergistic combination of biology and engineering for the construction of artificial biological system in order to gain desired functions (i.e. to reduce cost or improve efficacy). It comprises nascent technologies that enable synthesis of novel biological parts and organisms that are used in the field of healthcare, chemicals, agriculture and others (biosecurity, R&D and energy and environment).

The synthetic biology market is witnessing rapid growth owing to increase in demand for renewable fuels and bio-based chemicals and inexpensive drugs and vaccines that utilizes synthetic biology technologies and products. In addition, participation of various organizations such as BioBricks, DIYbio and SynBERC, for the development of synthetic biology field will further augment the growth of this market during the forecast period. However, high cost and strict regulations to use synthetic biology techniques hampers the growth of this market.

Synthetic biology market is segmented mainly by products, by technologies and by applications. Synthetic biology, by product segment is classified as core products and enabling products. Core products are further segmented into synthetic DNA, synthetic genes, synthetic cells, XNA and chassis organisms. The synthetic biology market by core products was dominated by synthetic DNA market in 2012 owing to the commercial availability of this product, compared to other synthetic core products expected to be launched in the market in coming years.

Synthetic biology market by technologies is segmented as genome engineering, DNA sequencing, bioinformatics and biological components and integrated systems. Genome engineering technology can be used to modify genetic foods, gene cloning and gene therapy. Thus, application of genome engineering increases the scope to utilize this technique and hence accentuates the growth of this market.

Applications of synthetic biology are healthcare, chemicals, agriculture and others. Synthetic biology in healthcare holds largest market share in terms of revenue due to high utilization of synthetic biology techniques to produce cheap drugs and vaccines. Also, commercial availability of synthetic DNA and synthetic genes supports the growth of the healthcare application in the synthetic biology market. Agriculture segment is expected to grow at the highest growth rate during the forecast period.